Debt consolidations loans – Debt consolidation – NatWest

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Debt consolidation loans

Tidy up your finances

Other amounts available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR. Available to existing NatWest current account customers over the age of 18 who reside in the UK.

We could help you tidy up your finances

A debt consolidation loan could be used to pay off your existing credit cards, store cards and other personal loans. You could consolidate all your debt into the one loan and only have one payment to make each month.

Taking on any new debt is a big decision; extending the term of your debt can incur more interest and cost more in the long run and sometimes an early repayment charge may apply.Early Repayment Charge (ERC) is a fee that sometimes applies when re-paying debt early. It is less common with credit or store cards but more common with loans. If an ERC applies, remember to take it into account when working out the cost of a new loan.

Top tips

Make a list of all your current debt. Check all outstanding balances, interest rates and any penalties for paying off the debt early.

Use our loan calculator to find the right debt consolidation loan for you based on your current debt calculation. You could also use our Quick Quote tool to find out if you're likely to be approved for a loan, how much you could borrow, the interest rate and your monthly repayment amount.

Think through all your options. Could you use savings to reduce your debt? Check out our 'managing your money' guide.

The interest you receive on your savings might be lower than the interest you pay on a loan so you might want to consider paying off your existing debt with any savings you have. If you're struggling with excessive mothly payments, you may be able to arrange a new payment plan or a 'repayment holiday'.

Calculate Your Repayments

Use our debt calculator to see how much you'll need to pay back each month or how soon you could pay off your debt.